Tata Steel Europe will cut 1,250 jobs across Europe

Tata Steel Europe CEO Henrik Adam said that job losses in Europe will be 1,250, not 3,000 as expected. In a letter to employees on Monday, Adam described the company's financial position as serious. He said: “There is an urgent priority to improve business performance and our cash position. The business lost £ 76 million in the first nine months of the fiscal year. We have identified a number of measures, including not replacing employees who have retired or gone out of business, to minimize job losses.

The proposed plans are aimed at securing the future of our company and doing what is best for our employees, given the very difficult circumstances we are facing today. Arrangements will be made to start consultations in early April on the proposed organizational changes with the relevant national workers' representatives. Our transformation is about securing the future of our business for future generations of metallurgists. "

In November, it was suggested that two-thirds of job losses across Europe would be in management and office positions. The unions have demanded urgent negotiations to discuss the transformation plans outlined in the memo, which included not replacing employees who had retired or left the company and receiving 1,250 job cuts.